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The group said welcome improvements to the UK planning system have made it easier to gain permission, meaning housebuilders do not need to land grab as much to ensure a supply of developments.

Taylor said: "The land and planning environment has undergone a structural change in recent years and is now materially better than it has been historically.

"We believe that this change in what has historically been such a critical constraint to our business offers us new choices in how we deliver homes to our customers."

It now wants to boost its house building capacity to match the new planning opportunities, by investing in its skills and supply chain, although it added costs would need to be kept in check.

"This will not happen overnight, and we are committed to doing it properly, but it will increase our capacity to deliver, to a high quality, many more of the homes that the country needs," Taylor said.

It marks a sea change in housebuilder attitude towards planning, with the industry having been highly critical of the complex and lengthy system in Britain. Affordability is stretched further through significant interest rate rises or Help to Buy ends," it said.

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Taylor's full-year results in February were dented after having to fork out £130 million because of a leasehold scandal, but the firm said it is on track to meet expectations in 2018.

It then revealed an extreme weather hit in March, which caused a slowdown in sales and build rates, but has maintained that the housing market remains stable.

Anthony Codling, an analyst at Jefferies, said: "The demand for new homes clearly outweighs the supply of new homes, in our view.

"Reading between the lines of today's statement, it appears to us that on a five-year view, Taylor Wimpey has the infrastructure in place to grow volumes from around 14,500 in 2017 to between 16,500 and 20,000 should current market conditions (and site mix) allow."